Hong Kong loses IPO crown to New York; slips to No 3 globally, first half data shows
Hong Kong has lost its crown as the world’s favoured destination for companies to raise funds, slipping to the No 3 spot behind New York and Shanghai, amid a dearth of blockbuster listings in the first half, according to preliminary data from Thomson Reuters. The city’s stock market raised US$5.8 billion worth of IPOs from the start of the year to Friday, a drop of 19.5 per cent from US$7.3 billion in the same period in 2016 when the bourse ranked as the leader for new listings...Source: South China Morning Post - Business feed | 25 Jun 2017 | 11:38 pm(NZT)
China, Hong Kong the biggest source of funds mediated through British Virgin Islands, study says
Mainland Chinese and Hong Kong companies accounted for more than 40 per cent of the US$1.5 trillion in assets mediated through the British Virgin Islands, underscoring the offshore investment centre’s growing status as a hub for Chinese overseas investment, according to new research issued on Thursday. Outward investment in 2015 mediated via British Virgin Island companies (BVI) from China and Hong Kong stood at US$608 billion, almost seven fold more than North America’s US$87...Source: South China Morning Post - Business feed | 25 Jun 2017 | 10:53 pm(NZT)
Push on with the 'great unwinding', BIS tells central banks
LONDON (Reuters) - Major central banks should press ahead with interest rate increases, the Bank for International Settlements said on Sunday, while recognizing that some turbulence in financial markets will have to be negotiated along the way.Source: Reuters: Business News | 25 Jun 2017 | 10:45 pm(NZT)
Next boss Lord Wolfson calls for 'smooth' Brexit
Lord Wolfson warns that a badly managed exit from the EU could lead to "years of economic decline".Source: BBC News - Business | 25 Jun 2017 | 10:43 pm(NZT)
China broadens bribery crackdown to technology firms, says report
Mainland China has been shifting the focus of wide-ranging bribery investigations to telecommunications, media and technology (TMT) firms as the industry becomes more important to the economy, according to a joint report released on Sunday. The report said the TMT sector came under greater scrutiny in 2016 and faced more legal enforcement, alongside the traditional fields such as pharmaceutical and health care, real estate, manufacturing, finance and investment. In contrast, the fast-moving...Source: South China Morning Post - Business feed | 25 Jun 2017 | 10:01 pm(NZT)
From 9/11 to Orlando, Ken Feinberg’s Alter Ego in Compensating Victims
Camille Biros has helped her small but influential law firm set up payment protocols tied to the BP oil spill, mass shootings and other catastrophes.Source: NYT > Business Day | 25 Jun 2017 | 9:53 pm(NZT)
Chart of the day: Shrinking spread in US Treasury bonds
For all the noise and hype about the US Federal Reserve raising interest rates now that the economy is purring along, bond vigilantes are not convinced. The yield on benchmark 30-year Treasury bonds is pretty much where it was at the height of the global financial crisis late in 2008 and their futures are priced where they were 18 months ago (when the Fed first tightened its policy). The spread between two- and 30-year US government debt is 138 basis points, where it was late in 2007 and which...Source: South China Morning Post - Business feed | 25 Jun 2017 | 9:52 pm(NZT)
Director buying remains steady, while selling eases
Buying by directors was flat while selling fell, based on filings on the Hong Kong stock exchange from June 19 to 23. Buyers outweighed sellers with 36 companies that recorded 152 purchases worth HK$647 million versus 12 firms with 60 disposals worth HK$203 million. The number of companies on the buying side was consistent with the previous week’s 38 firms. Meanwhile, the number of trades was down from the previous week’s 190 purchases while the buy value was sharply up from the...Source: South China Morning Post - Business feed | 25 Jun 2017 | 7:06 pm(NZT)
Free trade deals for 'poorest countries' to be maintained post-Brexit
The government commits to maintaining duty-free imports for 48 developing countries.Source: BBC News - Business | 25 Jun 2017 | 12:03 pm(NZT)
Internal dossier criticises Audi top management: Bild
FRANKFURT (Reuters) - German luxury carmaker Audi's management board, including Chief Executive Rupert Stadler, has been sharply criticised by company managers, Bild am Sonntag reported on Sunday, citing an internal dossier.Source: Reuters: Business News | 25 Jun 2017 | 10:09 am(NZT)
Even with Whole Foods, Amazon would need many more warehouses to reshape grocery delivery
(Reuters) - If Amazon.com Inc hopes to revolutionize grocery delivery, then its bid to buy Whole Foods Market Inc for $13.7 billion will be just the start of a long and costly process.Source: Reuters: Business News | 25 Jun 2017 | 8:25 am(NZT)
Italian government decree for Veneto banks delayed to Sunday: source
MILAN (Reuters) - An Italian government decree that will start liquidation proceedings for two ailing Veneto-based lenders, Banca Popolare di Vicenza and Veneto Banca, is set to be delayed to Sunday, a government source said.Source: Reuters: Business News | 25 Jun 2017 | 6:15 am(NZT)
Sausage roll row: US 'invents' new summer snack
An American supermarket has created a "new" summer snack that look very familiar to Britons.Source: BBC News - Business | 25 Jun 2017 | 5:45 am(NZT)
CEO of Raytheon's Forcepoint eyes IPO: Boersen-Zeitung
FRANKFURT (Reuters) - U.S. missile maker Raytheon's cybersecurity unit could thrive were it to be listed separately, the head of the unit, Forcepoint, told German business daily Boersenzeitung in an interview published on Saturday.Source: Reuters: Business News | 25 Jun 2017 | 5:33 am(NZT)
Bits: Farhad’s and Mike’s Week in Tech: Uber Isn’t Everything
Uber dominated tech headlines this week, but a few other things happened in techland, too.Source: NYT > Business Day | 25 Jun 2017 | 1:00 am(NZT)
A Street Fight Among Grocers to Deliver Your Milk, Eggs, Bananas
Bananas can’t get cold. Milk mustn’t tip. Online food delivery still trips up companies. A day on the truck shows why.Source: NYT > Business Day | 24 Jun 2017 | 9:00 pm(NZT)
Marion Goldin, Award-Winning ‘60 Minutes’ Producer, Dies at 76
Ms. Goldin, a trailblazer as a TV newswoman, was long paired with Mike Wallace on memorable investigative pieces.Source: NYT > Business Day | 24 Jun 2017 | 3:43 pm(NZT)
European Central Bank Moves to Wind Down Two Italian Banks
Veneto Banca and Banca Popolare di Vicenza have effectively failed because of a lack of capital. Another bank may buy their healthy parts.Source: NYT > Business Day | 24 Jun 2017 | 2:25 pm(NZT)
Building society's account deadline axed
Current accounts at the Norwich and Peterborough had been earmarked to close by the end of August.Source: BBC News - Business | 24 Jun 2017 | 9:01 am(NZT)
Big hitters
The Women's Cricket World Cup gets under way, on a mission to grow as a sport and a businessSource: BBC News - Business | 24 Jun 2017 | 8:58 am(NZT)
Norfolk: Relaxation and Royals, Beaches and Big Skies
Norfolk, in the East of England, offers the opportunity to stay in luxury hotels, explore unspoiled countryside and spot the Royals in their natural habitat.Source: Forbes Real Time | 24 Feb 2017 | 1:50 am(NZT)
Solar Jobs Aren't What They're Cracked Up To Be
Solar advocates point to the number of jobs created by the industry, but it's actually a sign of labor inefficiency. It takes a lot more jobs to produce a given amount of solar energy than oil or natural gas do.Source: Forbes Real Time | 24 Feb 2017 | 1:46 am(NZT)
France's PSA Profits Strengthen GM Europe Takeover Position, But Hurdles Are Huge
France’s PSA Group bolstered its ability to buy General Motors’ European subsidiaries Opel-Vauxhall with its latest profit performance, but given the plan probably requires big job cuts, notably in politically sensitive Germany, a deal must be regarded as unlikely.Source: Forbes Real Time | 24 Feb 2017 | 1:34 am(NZT)
The Best Video Games Of 2016
Source: Forbes Real Time | 24 Feb 2017 | 1:30 am(NZT)
Sony's 2017 Lineup Of PS4 Exclusives Is Insanely Amazing
Sony isn't pulling any punches when it comes to exclusive PS4 content in 2017.Source: Forbes Real Time | 24 Feb 2017 | 1:30 am(NZT)
Auto union courts Tesla workers, amplifies 'buy American' message
By Joseph White DETROIT (Reuters) - United Auto Workers President Dennis Williams said on Thursday the union is contacting workers at Silicon Valley electric car maker Tesla Inc , and plans to boost efforts to convince U.S. consumers not to buy vehicles built in other countries, including those sold by the Detroit automakers. The UAW leader also used a meeting with reporters to praise President Donald Trump for calling on companies to produce more products in the United States, and promising to rework the North American Free Trade Agreement. ...
Source: Business News Headlines - Yahoo! News | 17 Feb 2017 | 9:47 am(NZT)
Snap lowers valuation expectations in highly awaited IPO
Snap Inc , owner of the popular messaging app Snapchat, set a lower-than-expected valuation range on Thursday, amid mounting investor concerns over its unproven business model, slowing growth and tight founder control. The company, which filed for an initial public offering earlier this month, was widely expected to be valued at between $20 billion and $25 billion. The lower valuation range reflected initial investor feedback, as well as Snap's aim to ensure there is sufficient demand for shares of the company that it trades up on its first day in public market.
Source: Business News Headlines - Yahoo! News | 17 Feb 2017 | 9:20 am(NZT)
Wall Street rally loses steam as banks and energy weigh
(Reuters) - Wall Street dipped on Thursday, weighed down by energy stocks as oil prices dropped and banks fell broadly for the first time in six days.
Source: Business News Headlines - Yahoo! News | 17 Feb 2017 | 8:40 am(NZT)
German minister backs Peugeot-Opel deal after GM assurances
By Pamela Barbaglia and Ilona Wissenbach LONDON/FRANKFURT (Reuters) - Germany expects PSA Group's proposed acquisition of General Motors' Opel business to go ahead, a minister said on Thursday, after the U.S. carmaker sought to allay fears of large-scale plant closures. "I expect it to take place," Economy Minister Brigitte Zypries told reporters after discussions with senior executives from General Motors and PSA, maker of Peugeot and Citroen cars. The German government is "doing everything we can" to preserve Opel's domestic plants, Zypries said.
Source: Business News Headlines - Yahoo! News | 17 Feb 2017 | 8:34 am(NZT)
Newspapers aim to ride 'Trump Bump' to reach readers, advertisers
By Jessica Toonkel NEW YORK (Reuters) - The Trump administration's combative view of traditional news media as the "opposition party" and "fake news" is turning out to be the best hope in 2017 for newspapers struggling to attract more digital readers and advertisers. The New York Times , the Financial Times, The Wall Street Journal and Gannett Co are building on the online readership they gained during the 2016 presidential election by marketing unbiased reporting as a sales strategy. The New York Times, which President Donald Trump has referred to as "failing" in his Twitter messages, added a record 276,000 digital news subscribers in the last quarter and sees digital ad revenue up 10 to 15 percent in the current quarter.
Source: Business News Headlines - Yahoo! News | 17 Feb 2017 | 8:20 am(NZT)
Will the next iPhone charge wirelessly?
The days of plugging in an iPhone to charge won't last forever.Source: World business news - CNNMoney.com | 14 Feb 2017 | 8:42 am(NZT)
How 'America First' could turn into to 'India First'
Nandan Nilekani, co-founder of one of India's biggest outsourcing companies, says an H-1B visa crackdown would ultimately hurt the U.S.Source: World business news - CNNMoney.com | 14 Feb 2017 | 8:20 am(NZT)
Mexico ready to retaliate by hurting US farmers
Mexican Senator Armando Rios Piter told CNN that he plans to introduce a bill this week that would stop Mexican purchases of American corn.Source: World business news - CNNMoney.com | 14 Feb 2017 | 6:37 am(NZT)
Stocks hit record again. Is Trump the reason?
The market is at all-time highs and many say Trump is the reason. But stocks were rallying when investors thought Hillary Clinton would win. Janet Yellen and the Fed may deserve more of the credit for the market's move.Source: World business news - CNNMoney.com | 14 Feb 2017 | 6:35 am(NZT)
Apple stock nears record high
Apple stock is less than $1 away from its all-time high amid renewed optimism for the iPhone.Source: World business news - CNNMoney.com | 14 Feb 2017 | 6:24 am(NZT)